Unique and Innovative Platform
Auxilium is the first cryptocurrency with Ethereum’s code-base, PoA (Proof of Authority), smart contracts and AID (Auxilium Interest Distribution) platform.
With information comes knowledge, and, a better understanding of the code and more insight for investors and supporters.
Ethereum is a world computer that offers: 1) transparent governance for communities, 2) secure communications (e.g. authentication and messaging), 3) a secure backbone for e-commerce and the Internet of Things, 4) secure payments, 5) integrated development environment (i.e. debugging, development and deployment of Ethereum applications), and 6) free software ( released under the General Public Licence).
Ethereum is similar in principal to Bitcoin in that it uses blockchain technology, but in additional to transactions, Ethereum keeps track of computer programs as well. This offers a variety of advantages and possibilities, like deciding whether someone is allowed to drive a car, or who has won an election.
As the blockchain is distributed across each node participating in the network, transparency and visibility are a standard. At any moment, a user is able to verify the state of a contract or application running on the blockchain, making it very secure and safe to use.
A smart contract is a computer code that defines certain parts of an agreement and can self-execute if terms are met.
Contracts on a blockchain are not too dissimilar from those used every day by people, all over the world.
Contracts define a deal between two or more people with a mutual understanding of the rules and regulations and if agreed upon by all parties, a binding agreement is formed, a contract.
As technology improves, so too does the method and means to create a contract. Enter, the smart contract.
Smart contracts are especially good when exchanging money, properties, shares or anything else of great value, because of their immutable nature and complete transparency.
In many cases, it may be possible to cut out the middleman, thus, saving more money and time.
POA (Proof of Authority)
In PoA-based networks, transactions and blocks are validated by approved accounts known as validators or, authoritative nodes.
Auxilium will maintain tight control over each of the authoritative nodes on our network which means the only way for a 51% attack to occur, is if someone hacks into at least 51% of our authoritative nodes. This is considerably more difficult to do than launching a 51% attack on a PoW blockchain as anyone can join the PoW network and throw a high hash-rate mining rig or pool at the network to perform such an attack.
A major difference between PoW, PoS and Ethereum’s PoA engine, is that it does not issue rewards.
AID (Auxilium Interest Distribution) platform
Although for instance, coins with Proof of Work and Proof of Stake claim to be decentralised, the reality is that both PoW and PoS tends to serve the people with the most resources or coins.
The people with the most computing power or coins are more likely to win block rewards, and in the most extreme scenario, can take over the network and control the blockchain.
To promote true equality in reward, we have built Auxilium Interest Distribution (AID), a fair, interest distribution platform that works within our network. People holding AUX in their wallets will be reward up to 8% interest per annum, regardless of the amount of coins they hold. This implies that everyone holding AUX will get the same percentage of interest. The weight for interest earned is the same whether you hold one coin or one hundred million coins.
Furthermore, AUX holders do not have the obligation to mine or stake for rewards which is not only time efficient and user friendly, but also environmentally friendly. Unlike PoS and PoW, there is no need to leave your computer on in order to earn interest on your holdings.
The Future is PoA with AID platform
PoA has many advantages over PoW, PoS, and PoW/PoS hybrid, which is used by many cryptocurrencies.
MAIN ADVANTAGES OF POA OVER POW and POS
STORE, EARN, DO GOOD
Auxilium by design, allows for up to 8% interest per annum without the need for mining or staking, and of that, 8% is automatically contributed to a fund used to help a variety of charities and causes around the world.
OTHER MAIN ADVANTAGES UNIQUE AUXILIUM CODE
With smart contracts, there are fewer obstacles in your path. You’re assured a smoother journey and intact payload, upon arrival at your destination.
Due to the nature of blockchain technology, your transactions and smart contracts are very safe and reside in a distributed ledger, not easily altered.
All transactions and smart contracts are duplicated across each of the nodes on the network. Your transactional history and contracts, are immutable.
Using smart contracts, you’re able to interact directly with the intended recipient, rather than working through one or more intermediaries.
Smart contracts are not only faster, cheaper and immutable, but they also help minimise human error associated with manually filling out lots of forms.
HELPING MORE PEOPLE
Storing AUX can earn you up to 8% interest annually. Additionally, 8% of the 8% is automatically contributed to a charity fund, allocated in consultation with the community.